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    Payoff Matrix Explained

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    5. From the following payoff matrix, where the payoffs (negative values) are the years of possible imprisonment of individuals A and B, determine (a) whether individual A has a dominant strategy, (b) whether individual B has a dominant strategy, (c) the optimal strategy for each individual. (d) Do individuals A and B face a prisonerâ??s dilemma?

    Individual B
    Confess Don't Confess
    Confess (-5,-5) (-1,-10)
    Individual A
    Don't Confess (-10,-1) (-2,-2)

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    Solution Preview

    Let's define what dominant strategy (DS) mean.

    If one has a strategy that always gives him a higher payoff regardless of what his opponent plays, this strategy is called DS.

    Clearly, A has a DS and ...

    Solution Summary

    This solution explains the payoff matrix in a prisoner's dilemma situation in 145 words in an attached Word document.